The Philippines is pushing for inclusive and sustainable economic agenda in the Asia-Pacific where countries’ policies and programs create opportunities for everyone, not just a select few.
This was the message of Trade Acting Secretary Cristina Roque at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting (AELM) Retreat on November 16 in Lima, Peru.
“By partnering closely with industry while focusing on inclusive growth, we can build a more prosperous and equitable Asia-Pacific region for all our people,” said Roque, who represented President Ferdinand Marcos Jr. at the AELM.
Roque also highlighted the Philippines’ support for APEC’s recent deliverables on promoting the transition to the formal and global economy; clean, low-carbon hydrogen; and food loss and waste reduction.
She likewise called for stronger partnerships, innovation, and inclusivity to navigate the complexities of the global economy and build a resilient region.
She said APEC must work harder to ensure the benefits of economic integration are realized at the domestic level and shared by all segments of society, including vulnerable and underrepresented groups and rural communities.
Trade Undersecretary Allan Gepty at the APEC Ministerial Meeting (AMM) held also in Lima, Peru on November 14 reaffirmed the Philippines’ unwavering commitment to the World Trade Organization (WTO) for global trade and development. He also emphasized the continued relevance of the Free Trade Area of the Asia-Pacific (FTAAP) to APEC’s regional economic integration endeavors.
Gepty called on fellow APEC members to work together for the necessary reforms and for strengthening all WTO functions. These efforts include ensuring the effective implementation of new rules and disciplines, and initiatives such as investment facilitation, services domestic regulation, the Fisheries Subsidies Agreement and e-commerce.
On the FTAAP, Gepty urged the member economies to build from the various free trade agreements and economic partnerships that have been forged. He added common elements from Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership can be integrated to establish an APEC community with common or harmonized rules.